Bowen Hanes & Co. Inc. Raises Stock Position in JPMorgan Chase & Co. $JPM

Bowen Hanes & Co. Inc. lifted its stake in JPMorgan Chase & Co. (NYSE:JPM) by 1.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 281,884 shares of the financial services provider’s stock after purchasing an additional 4,450 shares during the period. JPMorgan Chase & Co. accounts for about 2.1% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 14th biggest holding. Bowen Hanes & Co. Inc.’s holdings in JPMorgan Chase & Co. were worth $81,721,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of JPM. Harbor Asset Planning Inc. purchased a new position in shares of JPMorgan Chase & Co. during the 2nd quarter worth approximately $26,000. MJT & Associates Financial Advisory Group Inc. bought a new position in JPMorgan Chase & Co. in the first quarter worth $28,000. University of Illinois Foundation bought a new position in JPMorgan Chase & Co. in the first quarter worth $30,000. Mizuho Securities Co. Ltd. boosted its holdings in shares of JPMorgan Chase & Co. by 450.0% during the 2nd quarter. Mizuho Securities Co. Ltd. now owns 110 shares of the financial services provider’s stock valued at $32,000 after buying an additional 90 shares in the last quarter. Finally, Ryan Investment Management Inc. bought a new stake in shares of JPMorgan Chase & Co. during the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 71.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on JPM. Wolfe Research lifted their price target on shares of JPMorgan Chase & Co. from $342.00 to $346.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Dbs Bank upgraded shares of JPMorgan Chase & Co. to a “hold” rating in a report on Tuesday, October 21st. TD Cowen upped their price target on JPMorgan Chase & Co. from $350.00 to $370.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. UBS Group lifted their price objective on JPMorgan Chase & Co. from $339.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, October 7th. Finally, KGI Securities raised their price target on JPMorgan Chase & Co. from $300.00 to $315.00 and gave the company a “hold” rating in a report on Wednesday, October 15th. Fifteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $326.38.

JPMorgan Chase & Co. Price Performance

NYSE JPM opened at $313.26 on Friday. JPMorgan Chase & Co. has a one year low of $202.16 and a one year high of $322.25. The stock has a 50-day moving average of $306.89 and a 200 day moving average of $293.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.88 and a current ratio of 0.86. The company has a market capitalization of $852.78 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.84 and a beta of 1.14.

JPMorgan Chase & Co. (NYSE:JPM) last posted its earnings results on Tuesday, October 14th. The financial services provider reported $5.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.83 by $0.24. The business had revenue of $47.12 billion for the quarter, compared to analysts’ expectations of $44.42 billion. JPMorgan Chase & Co. had a net margin of 20.90% and a return on equity of 17.18%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.37 EPS. On average, sell-side analysts forecast that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Monday, October 6th were issued a $1.50 dividend. This is an increase from JPMorgan Chase & Co.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Monday, October 6th. JPMorgan Chase & Co.’s dividend payout ratio is 29.72%.

Insider Buying and Selling

In other JPMorgan Chase & Co. news, Director Linda Bammann sold 9,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the completion of the sale, the director directly owned 82,207 shares in the company, valued at approximately $24,492,753.58. The trade was a 10.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robin Leopold sold 966 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $311.92, for a total value of $301,314.72. Following the transaction, the insider directly owned 58,479 shares in the company, valued at $18,240,769.68. The trade was a 1.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.47% of the company’s stock.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.